PJX Resources Announces Warrant Amendment
Toronto, Ontario (FSCwire) - PJX Resources Inc. (“PJX” or “the Company”) announces it amended the expiry date of an aggregate total of 750,000 unexercised share purchase warrants, (collectively, the "Warrants").
The Warrants were issued pursuant to a private placement announced on December 17, 2012 and accepted for filing by the TSX Venture Exchange on December 28, 2012. The Warrants are due to expire on December 27, 2014 and are exercisable at $0.25 per share. The the original expiry date of the warrants will be extended for an additional twelve months. The new expiration date of the Warrants is December 27, 2015. In all other respects, the terms of the warrants will remain unchanged and in full force and effect with the exercise price per warrant remaining unchanged at $0.25.
The TSX Venture Exchange has consented to the Warrant extension.
Exploration Update
“Detailed geophysics has identified positive gravity anomalies adjacent to a gravity low where the low appears to correspond with the gabbro rock unit intersected by drilling earlier this year on our Vine Property. This is very encouraging.” states company President and CEO John Keating. “Gravity defines the contrast in density of rocks. Massive sulphide is denser than gabbro. The gravity appears to have identified something denser adjacent to the gabbro that could be massive sulphide containing zinc, lead and silver. ”
Management and consulting geologists consider the Vine Property’s geological environment to be similar to the Sullivan Sedex (Sedimentary Exhalative) deposit that is located 35 kilometres to the north. There are 2 large target areas (eastern and western gravity anomalies) that have potential to host Sedex massive sulphide zinc, lead, and silver mineralization. Only 3 holes have been drilled to a target depth of the footwall quartzite in the eastern target area. Two of these holes, drilled in the 1990’s, intersected zinc, lead, silver massive sulphide mineralization. The third is a hole drilled by PJX which intersected a possible important structure for controlling mineralization. The western gravity target area has never been drilled.
Next steps will include drilling once permits are received.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.
Please refer to our web site http://www.pjxresources.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com
Forward-Looking Information
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/pjx12222014.pdf
Source: PJX Resources Inc. (TSX Venture:PJX) http://pjxresources.com/
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